Moving forward with its aggressive store expansion strategy, DICK'S Sporting Goods Inc. (DKS) is set to unveil a new store in Virginia. The store will be located at Springfield Town Center in Springfield (6601 Springfield Mall).
The opening of this store will mark DICK'S Sporting’s 27th outlet in Virginia and increase the company’s overall store count in the country to 589. The celebrations to mark the opening of this outlet will commence on Oct 17 and extend over the weekend.
The store offerings will include over 40 suitable in-store services provided by DICK'S certified PROS in sports and outlook specialties including Golf, Bike and Fishing. Moreover, the new locations will be highlighted by Under Armour Inc. (UA) and Nike Inc. (NKE) shops. It will also feature other athletic clothing and footwear brands along with the latest equipments for team sports, fitness, camping, hunting and fishing.
In order to attract customers to its new stores, during the celebration period, DICK’S Sporting announced a range of lucrative giveaways.
The company will distribute free Reebok Play Dry T-Shirts to the first 100 people in queue on the opening day. Also, the early birds will get an opportunity to open the DICK'S Sporting Goods Gift Locker on all three days. Moreover, on Saturday and Sunday, it plans to give free Mystery Gift Cards worth $5–$500 to the first 100 adults in line.
Additionally, to lure customers, the company has invited former NFL wide receiver, Art Monk, to make special appearance at the new Virginia store on Saturday.
We believe that the company will benefit from its in-store action and online growth strategies. The company’s in-store remodeling efforts, launch of shop-in-shop facilities and recruitment of more competent sales personnel have continually boosted its top line. Furthermore, the company is aggressively enhancing its eCommerce capabilities to increase sales as well as market share in online retailing.
DICK’S Sporting currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the same industry is Barnes & Noble, Inc. (BKS), which carries a Zacks Rank #1 (Strong Buy).
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